Gantry Secures $25M Refinancing for Palo Alto Creative Office Property
Gantry has successfully arranged a $25 million loan to refinance maturing debt related to the acquisition and renovation of a creative office building located at 250 Cambridge Avenue in Palo Alto, California. The property encompasses 38,000 square feet and was acquired and modernized by a private real estate investor.
The financing team included Gantry Principal Robert Slatt, Director Murphy Osborne, and Senior Associate Joe Foley, who represented the borrower in securing the three-year, fixed-rate loan with a 30-year amortization schedule. The loan was provided by one of Gantry’s correspondent life company lenders, and Gantry will be servicing the loan.
“250 Cambridge was a strategic acquisition for an experienced sponsor who completed a substantial renovation to modernize a well-positioned asset in a strong submarket for creative office space,” said Slatt. “Successful leasing and continued momentum with agreements in place for additional near-term occupancy positioned this asset to achieve a strong upside moving forward. This loan from a top life company correspondent retired existing debt from the original investment with an optimized fixed rate loan, structured to support stabilized performance with improving metrics.”
The refinancing reflects the property’s strong leasing performance and continued demand in the Palo Alto market for creative office environments.
